Regulatory10 Aug 2026, 06:40 pm
Asian Granito Reports Deviation in Rights Issue Fund Utilization
AI Summary
Asian Granito India Ltd has filed a Statement of Deviation and Variation regarding its Rights Issue of ₹440.96 Crores, dated April 6, 2022. The report for the quarter ended June 30, 2025, indicates a variation in the utilization of funds, primarily due to changes in the object clause approved by shareholders on March 30, 2023. Significant reallocations occurred in capital expenditure for setting up display centers and working capital for greenfield projects. The company also noted a termination of an EPC contract for a display center in Ahmedabad, with most of the advance payment refunded and a new agreement initiated.
Key Highlights
- Deviation reported in Rights Issue fund utilization as of June 30, 2025.
- Variation stems from changes in object clause approved by shareholders.
- Funds reallocated across capital expenditure and working capital projects.
- Previous EPC contract for Ahmedabad Display Centre terminated.
- New agreement for Display Centre in Ahmedabad initiated with a different vendor.
Price Impact
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